Dycom Industries (NYSE:DY) Price Target Raised to $650.00

Key Points

• JPMorgan raised its price target on Dycom Industries from $415 to $650 and kept an overweight rating, implying about 21% upside from the prior close.
• Other analysts have also turned more positive on the stock, with several firms lifting targets; the overall consensus rating remains Buy with an average target price of $502.09.
• Dycom recently reported strong quarterly results, beating earnings and revenue estimates, and its shares traded near a 52-week high as investors reacted to the better outlook.

Dycom Industries (NYSE:DY - Get Free Report) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $415.00 to $650.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 21.18% from the stock's previous close.

A number of other research firms also recently issued reports on DY. Wall Street Zen downgraded Dycom Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 7th. Bank of America raised their target price on Dycom Industries from $365.00 to $475.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Zacks Research raised Dycom Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Guggenheim raised their target price on Dycom Industries from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, KeyCorp raised their target price on Dycom Industries from $426.00 to $482.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $502.09.

Dycom Industries Stock Performance

Shares of NYSE DY traded up $7.24 during mid-day trading on Thursday, reaching $536.37. 996,312 shares of the company's stock were exchanged, compared to its average volume of 425,686. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 55.87, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46. Dycom Industries has a 52 week low of $225.34 and a 52 week high of $566.47. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.74 and a quick ratio of 2.61. The firm has a 50-day moving average price of $395.39 and a two-hundred day moving average price of $373.96.

Dycom Industries (NYSE:DY - Get Free Report) last released its earnings results on Wednesday, May 27th. The construction company reported $4.42 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $1.69. The company had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.67 billion. Dycom Industries had a return on equity of 21.77% and a net margin of 5.07%.The business's revenue for the quarter was up 56.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.09 EPS. Dycom Industries has set its Q2 2027 guidance at 4.400-4.820 EPS. Analysts predict that Dycom Industries will post 12.89 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new position in Dycom Industries during the 3rd quarter valued at about $26,000. Kemnay Advisory Services Inc. purchased a new position in Dycom Industries during the 4th quarter valued at about $30,000. Optiver Holding B.V. grew its holdings in Dycom Industries by 57.1% during the 3rd quarter. Optiver Holding B.V. now owns 110 shares of the construction company's stock valued at $32,000 after buying an additional 40 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Dycom Industries during the 4th quarter valued at about $32,000. Finally, CI Investments Inc. grew its position in Dycom Industries by 259.4% during the third quarter. CI Investments Inc. now owns 115 shares of the construction company's stock worth $34,000 after buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 98.33% of the company's stock.

More Dycom Industries News

Here are the key news stories impacting Dycom Industries this week:

• Positive Sentiment: Dycom posted record Q1 fiscal 2027 results, with earnings of $4.42 per share and revenue of $1.96 billion, both well above Wall Street expectations. The company also raised its full-year fiscal 2027 outlook, which helped reinforce the view that growth remains strong. Article Title
• Positive Sentiment: Backlog rose sharply to $11.9 billion, suggesting healthy demand and good visibility into future revenue. Investors are also encouraged by the company’s continued exposure to telecom, fiber, and data center infrastructure work, including the planned acquisition of National Technology Integrators. Article Title
• Positive Sentiment: Analysts turned more constructive after the earnings beat, with B. Riley, Wells Fargo, and Guggenheim all raising price targets and maintaining bullish ratings, which adds momentum to the stock. Article Title
• Positive Sentiment: Dycom is also trading near a 52-week high, reflecting investor confidence that the strong operating trends can continue. Article Title
• Neutral Sentiment: The company will participate in upcoming institutional investor events, which may keep attention on the name but is not a major fundamental catalyst on its own. Article Title

About Dycom Industries

Dycom Industries, Inc NYSE: DY is a leading provider of specialty contracting services to the telecommunications industry in North America. The company delivers engineering, construction, installation and maintenance solutions for communications infrastructure, supporting a broad range of network technologies and system architectures. Dycom's services span outside plant construction, cable placement, fiber optic deployment, wireless and wireline network engineering, as well as testing and turn-up services for voice, data and video applications.

Dycom's customer base includes major telecommunications carriers, cable operators, utility companies and competitive local exchange carriers.

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